The father of the chapel, Peter Chapman, has emailed FT editorial staff a strongly worded end-of-year update from the NUJ committee underlining the union's opposition to a pay freeze imposed on staff last month.

The update also claimed that management had made no assurances that they would not draw bonuses during times of economic hardship, when cuts were being sought from editorial staff.

The email update, seen by MediaGuardian.co.uk, demanded that management made significant changes to realise some efficiencies in 2009.

"The general feeling is that if there is to be 'pain' in 2009, then it will not be 'shared'. The suspicion is that management will attempt to alleviate its own discomfort by use of the bonus system. Management indicates that it cannot give us guarantees that management bonuses will not be paid. We cannot overstate the corrosive effect this is having," the update to editorial staff stated.

The union chapel said that in the new year it would be looking for a "meaningful pay rise"; assurances that management bonuses are ruled out; that further savings are made at board level and guarantees there will be no compulsory redundancies.

Earlier this month, the FT told staff that it would be imposing a pay freeze on those earning more than £30,000, alongside offering staff the chance to take voluntary redundancy or reduce the number of days worked each week.

John Ridding, the Financial Times chief executive, informed staff that the cost-cutting measures were being put in place as a result of a worsening global economic conditions.

"With our customers and advertisers being affected we need to prepare for difficult times. We need to act early and decisively to reduce costs so that we can sustain our investment and our success," Ridding told staff this month.

However, the union believes that editorial staff are being asked to bear the brunt of the changes. The update went on to indicate that staff felt a duplication of board responsibilities existed that, if addressed, could save £1m-£2m.

The update also went on to claim that the continued existence, in its current form, of a management bonus scheme had the potential to leave the editorial operation "very badly damaged, if not destroyed".

"It is becoming difficult to believe very much of what management says. Hypocrisy applies, for example, to the way management rewards itself compared with staff in general. Management is compensated according to the year at hand; staff's return is assessed according the movements of ubiquitous storm clouds – they have either just been with us, are up above or will be along shortly," said the update.

The Financial Times declined to comment.

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